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Ethereum shows similar strengths; It is currently trading above the $2,300 level, an increase of 1.5% over the past 24 hours, while Bitcoin is witnessing stability at the $77,000 level. This success of Ethereum against Bitcoin has reduced the price of ETH/BTC at a very critical time, as data-driven predictions on the chain show that foreign currencies have started to move from major currencies to the altcoin market.
Volumes over the past 72 hours show consolidation, which is often an early sign before a rally. The ETF data also adds additional detail, as the recent volatility in the trend has already started with major ETH price movements.
Although the picture of the past seven days looks very weak with ETH below 2.5%, the short-term momentum is clearly visible. Since the launch of Ethereum, May has been its best month in history with an average return of 34%, followed by January at 28%. Therefore, if this May follows the old trend of the altcoin season, the signs seem to be forming.
Ethereum price prediction: $3,100 if the intermediate target is met
At the level of $ 2,300, Ethereum maintains its position above the immediate support with a small daily gain, but the decrease of 2.5% every week means that the bulls are no longer in control. The main resistance to watch remains near $2,500, because the price has repeatedly failed to break this level.
Composite models predict a mid-May price of $2,750, which means an 18% increase from the current level. The best expectations come from the Traders Union, which looks at $ 6,400 in long-term conditions, although this requires greater financial strength that exceeds what is currently available.
Ethereum needs to recover the level of $ 2,830 as the ETH/BTC ratio increases for the investment funds to altcoins to accelerate, which could push the price to test the level of $ 3,100 at the end of May, if it follows the monthly return of this month.
Recent technical analysis around the $2,320 level shows where the boundary between recovery and recession is now. Ethereum needs constant buying pressure, not just one green candle.
Maxi Doge looks for early gains as Ethereum tests critical levels
Although the situation of Ethereum looks good, the movement of 30% in the price of billions of dollars is a very different story from the seizure of money in its early stages before the acquisition price. Here the importance of placing at the time of writing (Presale) is evident.
Maxi Doge ($MAXI) is a meme based on the Ethereum network (ERC-20) that focuses on the nature of sustainable trading, represented by a large dog with a “1000x” mentality of the cryptocurrency.
The IPO has raised $4.7 million to date at a current price of $0.0002815, with a fixed share available at an annual return of 60% reserved for early adopters only. Other features include a business competition for investors with prizes on the board, as well as a “Maxi Fund” for financial support and partnerships.
Marketing based on the meme was created in a funny way that focuses on physical strength, with the slogan “Don’t miss a day at the gym, and don’t miss a hike,” a technical strategy that aims to spread in the areas that are driving the meme’s interest.
A note Ethereum Shows Strength: Could History Benefit From Push To $3,100? appeared for the first time Cryptonews Arabic.